Genshiro Cats Sell for More Than CryptoPunks

Two Genshiro Cats NFTs top the charts in the past 24 hours, beating CryptoPunks

In the past 24 hours, a new NFT collection has emerged at the top of the NFT Sales Charts by DappRadar. Genshiro Cats, a collection available on the secondary market OpenSea, attracts a lot of attention and has scored some high-volume sales yesterday. Two Genshiro Cats NFTs sold for upwards of $240,000 each, stealing the spotlight from CryptoPunks and other established collections. .

The two Genshiro Cats NFTs sold for $308,860 and $247,870, respectively. These are huge sales for a collection that is barely starting out. Not to mention the fact that the collection is now mentioned alongside the likes of CryptoPunks and Decentraland, which are both very established names in the NFT world.

The Genshiro NFT collection also performs well in the weekly metrics. It is holding third and fourth place only after the huge Decentraland plot sale and CryptoPunk #8805.

What are Genshiro Cats?

The Equilibrium team created the Genshiro Cats NFTs ito raise funding for the company’s Kusama-based DeFi solution. All proceeds from the initial sale of the cast will go towards participating with bids in Kusama parachain auctions.

The Genshiro Cats collection consists of seven NFTs, each of which has a dedicated cryptocurrency symbol integrated into the image. The cryptocurrency dedications include BTC, ETH, DOT, KSM, GENS, and EQ. Six of the cats are one out of one unique NFT editions. However, Equilibrium decided to make the EQ cat a community reward NFT. It is available only to  Kusama Parachain Lease Offering participants.

An innovative feature of the Genshiro Cats collection is that the NFTs change their style when the cryptocurrency they are tied to reaches a certain real-time price threshold. According to Equilibrium, this Golden threshold is an important milestone for each token. This is why the cats will become gold-gilded when these prices are met. Here is a breakdown of the price thresholds for each cryptocurrency:

The Genshiro Cats NFT collection also boasts several important benefits for its owners. Collectors who have at least one Genshiro cat will benefit from higher staking rewards compared to other participants in Equillibrium’s Kusama PLO. Additionally, NFT owners get a discount on interest rates for borrowing and reduced trading fees. This includes both the Genshiro and Equilibrium platforms.

Considering these benefits, it is no surprise that Genshiro Cats attract a lot of attention. Even so, the exorbitant prices paid for Commander Fluffy and Mortimer The Crypto Mystic are impressive. These last couple of sales place the collection at the forefront of this week’s interesting NFT sales. 
DappRadar will continue monitoring the developments around Genshiro Cats. If you are an owner of one or have other interesting NFTs, you would like to easily browse through, check out the DappRadar portfolio. It allows you to connect your wallet in just a couple of clicks and view all of your NFTs in one place.

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